The Houston metro's strong real estate market has shown it can persevere through another year of high mortgage rates, and two local ZIP codes — in Katy and Cypress —are leading the nation as the hottest housing markets of 2024.

A just-released report by Opendoor has revealed Katy's 77493 is the No. 1 hottest U.S. housing market in 2024, with Cypress' 77433 landing at No. 2. The two ZIPs flip-flopped from last year's placements.

The study examined the U.S. ZIP codes where people bought homes the fastest in 2024, using local Multiple Listing Services (MLS) data in markets where Opendoor operates. The ZIP codes were ranked by the total number of homes that went into contract within 90 days of listing.

The affordability of Houston's suburbs remain a big draw attraction for newcomers, as the report says Houston's housing costs are among the lowest nationwide.

"Over the past three years, we’ve seen people choose to move away from city centers in favor of tighter-knit communities, but still live close enough to commute and be close to the action," the report says. "This year’s most popular areas are known for being fast-growing cities with plenty of new development, with healthy job growth in Florida and Texas in particular."

Texas cities dominated the top 10 for a second year in a row, with four additional ZIPs earning spots in the report: 78253 in San Antonio (No. 3); 78130 in New Braunfels (No. 4); 75126 in Forney (No. 6); and 78640 in Kyle (No. 10). McKinney's 75071 ZIP ranked 12th nationally.

Under-the-radar neighborhoods to watch in 2025
Opendoor also revealed its new list of "hidden gem" American neighborhoods where new listings grew from January to November 2024.

ZIP code 77377 in Tomball, a city 35 miles north of downtown Houston, was ranked the No. 4 best hidden gem neighborhood with homes under $300,000.

Plano was the only other Texas city to be included in the report's list of top under-the-radar neighborhoods. The Dallas suburb's 75074 ZIP was ranked the No. 7 best hidden gem for homes between $400,000 and $600,000.

"These [hidden gem] lists offer neighborhoods across different price points with something for everyone," the report says. "Similar to the top 20 list, these are neighborhoods that are fast-developing, with something more turnkey, and in a smaller community."

Opendoor's top 10 hottest ZIP codes of 2024 are:

• No. 1 – Katy, Texas (77493)
• No. 2 – Cypress, Texas (77433)
• No. 3 – San Antonio, Texas (78253)
• No. 4 – New Braunfels, Texas (78130)
• No. 5 – Summerville, South Carolina (29486)
• No. 6 – Forney, Texas (75126)
• No. 7 – Yukon, Oklahoma (73099)
• No. 8 – Clarksville, Tennessee (37042)
• No. 9 – Parrish, Florida (34219)
• No. 10 – Kyle, Texas (78640)